First(SH:603806)2021-04-19 16:00Financial Performance - Operating revenue surged by 86.51% to CNY 2,814,321,050.91 year-on-year[4] - Net profit attributable to shareholders increased by 219.70% to CNY 495,039,346.85 compared to the same period last year[4] - Basic earnings per share rose by 204.76% to CNY 0.64[4] - Revenue increased by ¥1.305 billion, a growth of 86.51%, driven by sales growth in photovoltaic films, backsheets, and photosensitive dry films[11] - Net profit increased by ¥341.09 million, a growth of 220.80%, primarily due to increased profitability[11] - Total operating revenue for Q1 2021 reached ¥2,814,321,050.91, a significant increase of 86.5% compared to ¥1,508,974,971.87 in Q1 2020[20] - Net profit for Q1 2021 was ¥495,563,832.49, representing a 220.5% increase from ¥154,476,194.31 in Q1 2020[21] - The company reported a total profit of ¥567,515,632.74 for Q1 2021, compared to ¥180,943,012.90 in Q1 2020, indicating a growth of 213.5%[21] Cash Flow - Cash flow from operating activities showed a negative net amount of CNY -770,573,337.35, compared to CNY -137,126,564.91 in the previous year[4] - Cash flow from operating activities decreased by ¥633.45 million compared to the same period last year, mainly due to increased cash payments for goods purchased and services received[12] - The net cash flow from operating activities for Q1 2021 was -¥770,573,337.35, compared to -¥137,126,564.91 in Q1 2020, indicating a worsening cash flow situation[32] - The net cash flow from investing activities for Q1 2021 was ¥726,474,845.60, a recovery from -¥911,479,025.26 in Q1 2020[32] - The total cash inflow from operating activities was ¥1,356,461,651.71, up from ¥972,179,536.42 in the same quarter last year, reflecting a growth of approximately 39.5%[55] Assets and Liabilities - Total assets increased by 5.50% to CNY 12,179,460,883.38 compared to the end of the previous year[4] - Total liabilities increased to ¥2,674,991,330.83, a growth of 6.3% from ¥2,515,630,723.30 year-over-year[16] - Current liabilities amounted to ¥1,275,097,547.92, reflecting a rise of 12.7% compared to ¥1,131,451,196.64 in the prior year[16] - Non-current assets totaled ¥2,450,625,133.84, an increase of 10.1% from ¥2,226,930,889.95 in the previous year[15] - Total assets as of March 31, 2021, were ¥12,179,460,883.38, up from ¥11,544,851,528.69, which is an increase of approximately 5.52%[44] Shareholder Information - The total number of shareholders reached 14,913 by the end of the reporting period[6] - The largest shareholder, Hangzhou Foster Technology Group Co., Ltd., holds 50.04% of the shares[6] - Shareholders' equity reached ¥9,504,469,552.55, up from ¥9,029,220,805.39, indicating a year-over-year increase of 5.2%[16] - The company’s net assets attributable to shareholders increased by 5.26% to ¥9,499,544,243.16 compared to ¥9,024,819,981.64 at the end of the previous year[32] Research and Development - Research and development expenses increased by ¥46.04 million, a growth of 92.51%, mainly due to increased R&D investment[11] - Research and development expenses for Q1 2021 amounted to ¥95,800,348.23, which is an increase of 92.5% from ¥49,764,523.67 in Q1 2020[20] - Research and development expenses increased to ¥85,219,022.97 in Q1 2021, up from ¥41,659,298.65 in Q1 2020, marking a 104.5% rise[22] Inventory and Receivables - Accounts receivable financing increased by ¥627.05 million, up 39.85%, primarily due to an increase in bank acceptance bills that are not yet due[9] - Inventory increased significantly to ¥1,092,156,699.44, up from ¥756,707,248.90, representing a growth of 44.4% year-over-year[18] - Accounts receivable rose to ¥2,150,780,338.55, compared to ¥2,105,328,091.85 in the previous year, marking a 2.2% increase[18] Other Income and Expenses - The company received government subsidies amounting to CNY 2,686,932.06 during the reporting period[5] - Non-operating income from investment products amounted to CNY 7,532,135.56[5] - The company experienced a credit impairment loss of ¥94,672,975.97 in Q1 2021, compared to a loss of ¥39,332,149.40 in Q1 2020[22] - The company’s other comprehensive income decreased by CNY 20.32 million, a decline of 55.09%, primarily due to reduced foreign currency translation differences[38]